SME Export Marketing Fund

To encourage SMEs to actively take part in export promotion activities, the Trade and Industry Department (TID) of the Government set up the SME Export Marketing Fund (EMF) in December 2001. In the aftermath of the outbreak of SARS and in view of its adverse effect on business, the TID has since June this year increased the maximum cumulative amount of grant an SME may receive under the EMF from $40, 000 to $80,000. The ceiling of funding for each successful application has also been raised from $20,000 to $30,000, or 50% of the total expenditure on fundable items, whichever is the less. To better address the needs of SMEs and enhance the flexibility in fund management, the TID has pooled together the resources of the EMF, the SME Training Fund and the SME Development Fund, which amounted to $900mn. As of 13 September 2003, about $262mn of grants have been approved under the three funding schemes. For the EMF alone, the TID has provided $134mn to more than 9,300 applications. Over 6,600 SMEs from different business sectors and with markets all over the world have so far benefited from the EMF. For further details about the EMF, please visit www.smefund.tid.gov.hk or contact the TID at 23985127.